Hon Hai Precision April sales fall slightly on seasonal factors

TAIPEI--Hon Hai Precision Industry Co. posted a slight month-on-month decline in sales for April due to seasonal factors.

In April, Hon Hai posted NT$294.44 billion in consolidated sales, down 4.34 percent from a month earlier, but up 0.92 percent from a year earlier.

As for the first four months of this year, Hon Hai's consolidated sales totaled NT$1.18 trillion, up 6.97 percent from a year earlier.

Market analysts said April's sales drop has been widely expected and it is possible for Hon Hai to continue to feel the pinch of slow season effects in May and June, which would cause it to experience a continuing slowdown in sales before a rebound in the third quarter.

However, the silver lining was that its Hong Kong listed subsidiary FIH Mobile Ltd., in which Hon Hai owns an approximately 70 percent stake, continued to enjoy stable growth in smartphone shipments, in particular in the growing lower-cost smartphone market in China, analysts said.